Purdue custom farming rates 2024 2022. Newest rates published I have found is from 2020, do not.

Purdue custom farming rates 2024 2022 73% Source: Purdue Land Value and Cash Rent Survey Purdue Commercial AgCast podcast, September 2024 Purdue Farmland Value & Cash Rent Survey 1. 2023 Purdue Crop Cost and Return Guide by Michael Langemeier, Professor of Agricultural Economics – The 2023 Purdue Aug 10, 2022 · Respondents were asked to evaluate the importance of ten market forces that may potentially influence the farmland market: (1) current net farm income, (2) expected growth rate in farm returns, (3) crop price level and outlook, (4) livestock price level and outlook, (5) current and expected interest rates, (6) returns to alternative investments Nov 1, 2022 · Figure 3 presents monthly feed cost indices for laying hens from January 2007 to October 2022. 47 in mid-May, while the weekly average November 2022 soybean futures price ranged from $13. The information below is based on 122 responses and 3,389 custom rates provided by Iowa farmers, custom operators, and farm managers. 25 $11. 26 34. Responses 2017 avg. Noah Miller, and Dr. 86 $1. Specifically, the chart illustrates crop machinery cost for corn, soybeans, and the average for the two crops. 6 13 7 6 30 30 37. 14 41. The 2025 MSU Custom Work Rates Report covers a wide number of basic field machine Nov 6, 2024 · The infant formula situation in the U. Purdue Farmland Value & Cash Rent Survey Background §Survey conducted annually in June since 1974 §Respondents: rural appraisers, ag lenders, farm managers, and farmers §Information collected: •Estimated Land values as of December 2022, June 2023 & December 2023 (projection) •Top, average, and poor quality land •Annual cash rental rate The growth rate of Indiana farmland prices is expected to moderate in 2024. Customer could pick up from field. , $87. If your machinery cost per acre is relatively high, then a farm should consider using a May 2, 2023 · Custom rates summarized in the recent 2023 Purdue custom rates survey indicate rising prices for harvesting and hauling grain. 8% increase from June 2023. Custom rates surveys provide producers with additional information to help with their farm management decisions. Farmland Values Aug 9, 2024 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. Indiana Farm Custom Rates; Farm Bill Resources; Purdue Farm Management Tour; Commodity Classic; 2024 Crop Cost and Return Guide. Inflation should fall gradually to 2. The reason is the rise in the base rate of farmland. Background Survey conducted annually in June since 1974 2. large round bales. The custom rates for operations shown below should be considered only as a good starting point for setting a final rate, Langemeier urges. e. Others rent machinery or perform other services. Government payments are expected to zero in 2024. Todd Kuethe, Professor and Schrader Endowed Chair in Farmland Economics. Mar 22, 2022 · March 2022 Estimates . Respondents were asked to report custom rates in their farm business or perform custom work for others. These custom rates are based on reported surveys in Ohio, Indiana, Missouri, Iowa, Wisconsin, and Kansas. Langemeier, Department of Agricultural Economics; Bob Nielsen, Tony J. The provincial average 2018 rates are also listed where available. As in past years, there are states that have updated their rate guides since a year ago. WEST LAFAYETTE, Ind. The discussion concludes by examining the relationship between cash rental rates and estimated net returns to land as well Agricultural Economics College of Agriculture Purdue University. 2% in 2025, a bit slower than in 2024. Purdue Farm Road, Dubois, IN. To learn more about Indiana’s 2024 farmland values, listen episode 173 for an in-depth understanding of trends, market dynamics, and future expectations for farmland values: https://purdue. The average corn price in August, the latest month for which data is available from USDA-NASS, was $5. Custom rate example. Having said that, it is important to note that the net farm income for 2022 is a Aug 3, 2023 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. 47 33. Purdue Educators distributed the questionnaires at meetings and events statewide during the last farm owners, farm custom operators, and professional farm managers in Indiana. 82 30. The department of agricultural economics conducts the Purdue Farmland Values and Cash Rents Survey each June; allowances for profit. Managing Farm Risk; Purdue Agricultural Economics Report; View All >> Series. rates in 2023 rates rates 34. 18 $3. The rate for conventional corn is $19. The average price of top-quality farmland reached $14,392 per acre, a 4. Purdue University is an Affirmative Action institution. May 12, 2021 · Purdue Extension educators surveyed Indiana farmers, farm owners, farm custom operators and professional farm managers regarding custom rates they had either paid or received during the past year. At Merrell Bros. continues to be closely watched; imports remain up significantly year-over-year, and we continue to explore the market and policy implications of the situation that developed in 2022. 70 27 33. Grain Harvesting In some locales there is both a fixed rate per acre and a variable rate per bushel charged for combining. 23 for each bushel Aug 7, 2024 · A comparison of cropland flex leases to cash rental agreements is provided with insights from the 2024 Purdue Farmland and Cash Rental Rate Survey. 65 24. Cash corn prices in Kansas were over $7 per bushel in the first 4 months of 2023, peaking in February at $7. Ohio will release its biannual custom rate report in May or June. 2025 Farm Bill What-If Tool (Sheet) ARC/PLC Calculator (Online) Publications. 02 in mid-January to $15. Apr 23, 2021 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. June 9, 2021. Purdue Educators distributed the questionnaires at meetings and events Apr 12, 2024 · Between Quarter 1 of 2022 and Quarter 4 of 2023, the percentage of Farm & Ranch and USDA Guaranteed Loans purchased by Farmer Mac that had a long-term fixed interest rate decreased dramatically. Farmers, landowners, farm custom Purdue Extension-Spencer County will1179@purdue. Newest rates published I have found is from 2020, do not 02/13/24 2022 Census of Agriculture Data Highlights. 13 $6. Updated October 21, 2022 41 bushels per acre. from June 2022 Current average rate. This year’s survey, published in March, includes 94 responses and 2,621 custom rates for tasks related to tillage, planting and seeding, spraying, harvesting, farm labor and more. Dec 27, 2023 · Nearly 1,400 respondents provided information on various custom farming rates in their area after the conclusion of the 2022 growing season. Purdue Educators distributed the questionnaires at meetings and events Feb 14, 2025 · Updated February 2025. 30 from the 2022 average. To see the full report for all operations, complete with all qualifying comments, visit 2021 May 2, 2024 · Custom rate charges should also cover noncash costs, including unpaid operator labor and machinery depreciation. 10 from $24. 40 $11. Our custom farm rates are in line with the Purdue Custom Farming Rates. ag/agcast173 Farmers use custom rates as a guide for machinery, budgeting, and financial planning. 30 42. steady or increase in 2023. I used to charge $2 per bale to swath, rake and bale. Variable cost per bushel in 2024 is estimated to be $3. 78 23 35. Compare your costs for baling small squares vs. 13/bu. The average rate for baling medium large round bales is $12. Compare your actual costs to custom rates. 90 $12. 81 per bale. Tom J Bechman 1, Editor, Indiana Prairie Farmer. gov The custom rates shown are averages from voluntary reports by custom operators and farmers throughout Mar 20, 2023 · In order to help producers and custom operators examine the market, Iowa State University Extension and Outreach publishes the Iowa Farm Custom Rate Survey. 02/13/24 2022 Census of Agriculture Data Release Event. The discussion covers cash rental trends in west central Indiana, the economic factors influencing changes in rental rates, and the relationship between net returns to land and cash rental rates. The 2024 report was published in the March edition of Ag Decision Maker and includes 130 responses and 2,805 custom rates provided by Iowa farmers, custom operators and farm Sep 11, 2024 · Survey also finds increasing importance of food affordability since August 2022. 88 21. 45 19. Of course, many states no longer do custom rate surveys. Mar 14, 2025 · Purdue ag economists James Mintert, Michael Langemeier, and Chad Fiechter examined how technology affects long-term farm growth and profitability, and share insights from farm financial records and farmer surveys during their 2025 Commodity Classic Learning Center Session on March 4, 2025. S. The 1Rotations are as follows: c-c = all of the farm acres in continuous corn; c-b = one-half of the farm acres in rotation corn and one-half in rotation soybeans. Thank you to those who provided information — even if it was just for one activity. 8% increase from 2023). 21 to April 15, 2025. 20 20. An average rate is given when there are at least three Aug 15, 2023 · Discover how interest rates impact farming decisions, machinery choices, and the value of farmland. 54 in early January to $7. These are the March 2023 crop budget estimations for 2023; prepared by Purdue faculty members Michael R. The user can evaluate up to three full-season crops, and the wheat double-crop soybean system. Postal Service and 633 people via email in February 2025. , and labor for the May 19, 2023 · The rate for wrapping bales is 73% higher than the rate in ’21, but only 8% higher than the rate for the same task in ’17. Based on the table, the average rate for planting no-till corn is $21. 2021 avg. 27 15 26. Jan 5, 2023 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. 2Crop's contribution margin is the per acre contribution margin from Table 1. Cash rental rates are expected to hold . 36$ 0. Jan 16, 2024 · While 2023 saw interest rate increases for farm real-estate loans, the size of the increase is less than what farmers saw in 2022. Aug 3, 2023 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Kuethe, Schrader Endowed Chair in Farmland Economics and the survey’s author. Looking Ahead While farmland prices increased between the 2023 and 2024 Purdue Farmland Value and Cash Rent Surveys, much of the growth appears to have taken place in the later half of 2023. 16 22. Nov 22, 2023 · March 2024 Estimates . 77 with Nov 21, 2023 · Check grain bins. 54 18 37 19. Years for which net farm income was one standard deviation or above the average net farm income from 1973 to 2022 (i. The quality of data is dependent on the cooperation received by producers and commercial custom operators. Oct 4, 2022 · From January 2022 through September 2022, the weekly average of the December 2022 corn futures price ranged from $5. nass. Mar 24, 2023 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. The rates $YDLODEOH DW Z W l l Á Á Á X v X u µ X µ l ( u z u v P u v l µ P r } r } ( r } µ ] } v Jan 3, 2025 · In addition to upward pressure on costs for repairs, fuel and oil, insurance, and custom rates; capital purchases were relatively strong during this time period. 07/16/21 What is a Farm? 08/05/20 The NASS Mission: We do it for you Jan 11, 2024 · Examining individual years, the typical farm in Argentina had an economic loss in 2020; the typical farm in Brazil had economic losses in 2018, 2019, and 2021; the typical farm in the Ukraine had an economic loss in 2022; the typical farm in Iowa had economic losses in 2018 and 2020; and the typical farm in Indiana had economic losses in 2018 . The main revision in the budgets is a reduction in the corn and soybean prices assumed for both 2023 and 2024, resulting in lower return and profitability projections. usda. Mar 24, 2023 · March 2023 Estimates . Sep 1, 2017 · Michael Langemeier - Numerous farms that are either hiring a custom operator or providing custom rate services to other farms use published custom rate surveys. The latest survey was completed in 2024 and is displayed here. Therefore, tax planning strategies will be relatively important. Ohio Custom Rates Oct 11, 2023 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. 5% between November 2022 and November 2023, a muted growth rate compared to the 17% and 31% increases observed in the preceding years. 1 billion) were as follows: 1973, 1974, 2004, 2011, 2013, 2021, and 2022. 70 or 22% lower than the average corn price in February. Purdue Educators distributed the questionnaires at meetings and events statewide during the last May 3, 2023 · Custom rates for baling hay are somewhat higher today — OK, a lot higher. The Ohio Farm Custom Rates 2022 survey — based off a statewide survey of 223 farmers, custom operators, farm managers and landowners in early 2022 — also shows increases over the previous survey, ranging from $2-$3 an acre more for tilled corn planting; $4-$5 an acre more for no-till corn planting; and $5-$7 an acre more for combining. Iowa Farm Custom Rate Survey was mailed to 316 people by the US Postal Service and 237 people via email in mid-February 2023. North Dakota State University is distinctive as a student-focused, land-grant, research university. Average 2023 farm custom rates for some typical tillage, planting, and harvesting practices, as well as custom farming rates, are listed in the adjoining Table. Custom Rates for Grain Sorghum Harvest, 2024, by District District Base Rate with Extra Charge for High Yield (if any) Flat Rate Charge Apr 13, 2023 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Twenty percent of the respondents perform custom work, 14% Survey results of rates charged in 2021 by 210 Ontario custom farm work operators are summarized on a provincial basis and by 6 smaller regional areas. Has the rate changed over time? Yes. Labor has also become both a limiting and higher cost expense. For more, visit farmprogress. edu 1101 E CR 800 N Chrisney, IN 47611 812-362-8066 spencerces@purdue. farmdoc daily (March 2011 to present) Weekly Outlook; Weekly Farm use published custom rate surveys. 8 27. 2022 Purdue Crop Cost & Return Guide March 2022 Estimates Dec 10, 2024 · Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. For For example, the costs for harvesting dryland wheat may be known as “23 -23-23” or “3 23s” -- $23 per acre plus $0. Purdue Educators distributed the questionnaires at meetings and events statewide during the last month of 2022 and the first three months of 2023. 15 39. 29. Jennifer Iftt, Dr. The MSU Custom Work Rates Report offers a base to determine a fair exchange value for both the provider and recipient of custom work. 19 per acre. In addition, rental rates per bushel of corn held relatively stable as well. For many producers, 2021 and 2022 have been relatively strong net farm income years. 50 18. Revised April 2024 Historical Iowa Farm Custom Rate Survey Averages Tillage 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Chopping cornstalks / acre $13. 91% Poor 167 $212 $204 −3. MSU Custom Work Rates Report. corn on average productivity soil is illustrated in figure 2. The 2018 survey is the most recent survey prior to 2021. The team provided an update on the change in Indiana farmland values and cash rental rates and reviewed farmland value estimates 2020-21 Farm Machinery Custom and Rental Rate Guide This guide has been established to provide approximate costs for renting equipment or obtaining custom farming operations from another farmer. Pre-registration is needed for accommodations, exams, and certificates as well as to speed the registration process and printing of certificates, and Iowa Farm Custom Rate Survey was mailed to 327 people by the US Postal Service and 232 people via email in early February 2022. 39 35. 60 in mid-June. Langemeier, Department of Agricultural Economics; Shaun Castell and Dan Quinn, Department of Agronomy; and Bill Johnson, Department of Mar 29, 2022 · Based on the Iowa State data, average custom rates for tillage, planting and harvest operations in 2022 are expected to increase by about 7% compared to the rates for similar operations in 2021 2024-25 Farm Machinery Custom and Rental Rate Guide This guide has been established to provide approximate costs for renting equipment or obtaining custom farming operations from another farmer. In addition to the MSU numbers, Ohio State University has updated their bi-annual survey for farm custom rates for 2022, the University of Illinois has a machinery cost estimates for 2021 and Purdue has a 2021 Indiana farm custom rates available. ag/paer. com. This summary is the product of an online survey which collected rates farmers paid for custom work performed in 2019. edu extension. NDSU Agriculture educates students with interests in agriculture, food systems and natural resources; fosters communities through partnerships that educate the public; provides creative, cost-effective solutions to current problems; and pursues fundamental and applied research to help shape a Custom Machinery Rates Applicable to Kentucky (2022) Author: Greg Halich, Associate Extension Professor. Current farmer return expectations are negative for both corn and soybeans across all Jul 1, 2024 · The “Ohio Farm Custom Rates 2024” publication reports custom rates based on a statewide survey of 333 farmers, custom operators, farm managers, and landowners conducted in 2024. , Inc. 2025 Hybrid Bermuda Hay - Irrigated; 2025 Hybrid Bermuda Hay - Non-Irrigated; 2025 Bahia; 2025 Fescue OTHER Irrigation Budgets Aug 6, 2023 · A comparison of cropland flex leases to cash rental agreements is provided with insights from the 2024 Purdue Farmland and Cash Rental Rate Survey. Percentage increase may not be much larger than for other operations, but because combines are a high-dollar item and custom combining rates are relatively high compared to other operations, numbers appear to move up faster than they do percentagewise. The University of Idaho conducts a Custom Rates Survey every 4-5 years. The numbers are based on surveys received from custom operators, farmers who hired custom work and farmers who performed custom work. , we have an up-to-date tillage, planting and harvesting fleet along with the latest technology to meet your corn, soybean, wheat and cover crop needs. Aug 29, 2017 · The information in table 1 was used to help compute the total machinery costs for field cultivation on the case farm in table 2. 09, up $7. 5 percent decline. These are the March 2024 crop budget estimations for 2024; prepared by Purdue faculty members Michael R. Purdue Educators distributed the questionnaires at meetings and events statewide during the last Mar 28, 2024 · The 2024 custom farming rates for corn and soybean production are also expected to remain steady compared to a year earlier, following an increase of nearly 20% in the previous five years. Langemeier, Department of Agricultural Economics; Shaun Castell, Dan Quinn, and Tony Vyn, Department of Agronomy; and Bill Johnson, Department of Botany Purdue University is an Affirmative Action institution. Charging custom rates at estimated costs should cover all costs, but will not generate a profit. These are the March 2022 crop budget estimations for 2022; prepared by Purdue faculty members Michael Langemeier and Craig Dobbins, Department of Agricultural Economics; Bob Nielsen, Tony Vyn and Shaun Casteel, Department of Agronomy; and Bill Johnson The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. The reason that’s been rising is the pandemic. 80 $14. This is the highest farm real estate interest rate since the 2nd quarter of 2007 in the Chicago Fed district and the highest interest rate since the data has been collected which started in the 2nd quarter of 2012. 70 per bale, with large round bales coming in at $13. Date: 12/5/23 Prepared by: Michael R. Only 16% of loans had a long-term fixed rate in late-2023, a sharp drop from nearly 80% at the beginning of 2022. Here are comments related to fertilizing and August 2024 Early Season Custom Farm Work Rates Page 3 FERTILIZER AND PESTICIDE APPLICATION AND HAYING OPERATIONS STATEWIDE AVERAGES, NORTH DAKOTA, 2024 Operation 20 24 2020 Average Rate 20 4 as Percent of 2020 Number of Reports Range in Rates Most Frequent Rate Reported Average Rate (number )(dollars per acre) (percent FERTILIZER APPLICATION “While farmland prices reached a new peak in 2023, the appreciation rate from 2022 to 2023 was much lower than the record high price growth observed between 2021 and 2022,” said Todd H. Custom Rates for Wheat Harvest, 2022, by District District . Most corn and soybean producers across the Midwest completed the 2023 harvest season somewhat early and may now need to pay close attention to grain that is stored in on-farm Percentage change in a sample list of custom rates reported from 2022 to 2024 Some Common Nebraska Custom Rates 2022 State Average Rate 2024 State Average Rate Percentage % Change Drilling Small Grains, no-till drill, rate per acre 19. Check the column for average rates from the same Purdue custom rates survey for 2017. The 2025 report is based on 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators, and farm managers. 91 38 27. The average value of bare Indiana cropland ranged from $9,071 per acre for poor quality land (a 4. Dec 10, 2024 · These custom operators can fill a gap that would otherwise make it difficult to meet farm goals. 90 $11. Feb 16, 2024 · It is common for small custom jobs to have a 20% to 30% higher cost of operation than a larger job, she adds. Jan 10, 2023 · Amid much policy uncertainty, output will likely grow about 2. It is not intended for establishing rates for individuals or companies that rent equipment or contract custom farming operations as a business. Jan 26, 2024 · “Custom rates in a given area may vary significantly according to timeliness, operator skill, field size and shape, crop conditions, the performance characteristics of the machine being used, the relationship between the custom operator and the person needing custom work done, competitive pressures, and economic circumstances of the custom Farm custom rates may differ significantly from one area in the state to another based on availability of custom operators and demand for their services. edu/spencer April-May 2024 It is the policy of the Purdue University Cooperative Extension Service that all persons have equal Mar 27, 2023 · The average custom rates for farm operations in most other areas of the Upper Midwest tend to be very close to the average Iowa custom rates. The Iowa Farm Custom Rate Survey was mailed to 371 people by the U. Therefore, the statewide averages reported here might be quite different from the going rate in any given area. Purdue updates haying and baling custom rates Jan 9, 2024 · Nick Paulson and Gary Schnitkey - Gary Schnitkey - Illinois crop budgets for 2024 have been revised from their initial release in August. All Jul 9, 2024 · MSU has a 2023 summary, while OSU, Purdue and Illinois have updated 2024 custom rates. Decision Tool, ARC-CO & PLC Per Acre Payment Estimator for Iowa, 2025-2026 , uses reported and projected prices from USDA Farm Service Agency and Risk Management Agency to project payments at Producers needing estimates for farm rates for practices from planting and harvest to tiling, hay baling and grain hauling can find averages at the following sites: Purdue University “2023 Indiana Farm Custom Rates”: Jul 10, 2023 · Using the Center for Farm Financial Management’s FINBIN database, figure 1 illustrates the trend in machinery cost per acre from 2013 to 2022 for farms with corn or soybeans. Jul 26, 2024 · values, which held relatively steady from 2023 to 2024. 4%, the unemployment rate should remain unchanged, and the Fed will cut interest rates more slowly than previously expected. The 2024 flat rate charge per acre was $39. With everything going up what's everyone's thoughts on rates you'll all be charging for 2022. Indiana Farmland Prices Continue to Rise August 2023 “While farmland prices reached a new peak in 2023, the appreciation rate from 2022 to 2023 was much lower than the record high price growth observed between 2021 and 2022,” said Todd H. 29% Average 196 $257 $260 0. Variable cost per acre in 2024 is expected to be $58 lower than it was in the 2023 budget, which represents an 8. READ MORE Grain Harvesting In some locales there is both a fixed rate per acre and a variable rate per bushel charged for combining. May 25, 2019 · The custom rates reported in the table below were published in 2017. Machinery Costs; Finance; Illinois Crop Budgets and Historic Returns; Farmland Leasing; Whole Farm and Other Reports; ARC / PLC Decision; ARC/PLC Calculators. More operations are highlighted in other articles. ly/Indiana-custom-rates-23. Jun 8, 2019 · The rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Center for Commercial Agriculture Center for Food & AgriBusiness Center for Food Conservation & Waste Reduction (CFCWR) Center for Food Demand Analysis and Sustainability (CFDAS) Center for Global Trade Analysis Center for Regional Development Digital Innovation in Agri-food Systems Laboratory (DIAL) Indiana Council for Economic Oct 25, 2024 · The full Purdue Agricultural Economics Report with 2024 survey results for farmland values and cash rental rates: https://purdue. Publication Number: AEC 2022-01. “Farm incomes The client pays a rate per acre for each farming operation requested to be completed. Cost Estimates Formulas published by the American Society of Agricultural Engineers are used to calculate costs. , and labor for the Farm Income and Production Cost Summary: This report summarizes farm income and earnings for FBFM enrolled farms for 2012-2016. Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. Mar 25, 2024 · The 2024 custom farming rates for corn and soybean production are also expected to remain steady compared to a year earlier, following an increase of nearly 20 percent in the previous five years. These are the updated February 2025 crop budget estimations for 2025; prepared by Purdue faculty members Michael R. 70 Aug 7, 2023 · Indiana Farm Custom Rates; 2021 and 2022 were very good years. 2023 Michigan State University Custom Work Rates Acres/Hr Acres/Yr Fuel Other Tillage 0 $0 - - $ - Chisel Plow 23 Ft 200 HP MFWD $53,500 11. Watch the recording now! Read More Aug 24, 2023 · Michael Langemeier, a Purdue Extension Indiana custom farming rates by operation Harvesting Unit 2023 avg. — Many members of the public lack familiarity with the farming methods known as regenerative agriculture, according to the August 2024 Consumer Food Insights Report (CFI). They’ll be going up a lot in 2025 too. Mar 26, 2021 · A 2019 survey of 800 commercial farmers (1000 acres or larger in size) by Purdue’s Center for Commercial Agriculture (Thompson et al, 2019) provides further insight on issues of precision agriculture technology adoption, and data analysis and utilization. Acres x Purdue; farm custom rates. 85 28. 80 18. The base rate bushels increased in 2022 for wheat harvesting compared to that reported in 2020. Adding 5 to 15 percent to estimated costs is appropriate for setting custom rates. 23 for each bushel Mar 27, 2024 · AMES, Iowa – Farmers who depend on custom work or provide custom services can review rates charged by others across the state in the latest Iowa Farm Custom Rate Survey. The average flat rate in 2022 for harvesting wheat was $28. 90 Moldboard plowing / acre 18. 2025 Cow-Calf Georgia; FORAGES. Another survey will be out sometime this year to update these findings. He relies on Purdue Extension educators to help distribute surveys, and then he compiles the data. This spreadsheet can be used along with the Purdue Crop Cost & Return Guide to examine gross revenue, costs, and earnings for crop enterprises. 64 18% May 7, 2024 · Ann Johanns, program specialist with ISU Extension and editor of Ag Decision Maker, says this year’s custom rates reflect the current farm economy. 2022 Broccoli; 2022 Carrots; 2022 Climbing Cucumbers; 2022 Cucumbers on Bareground; 2022 Collards; 2022 Egg Plant; 2022 Kale; 2022 Snap Beans; 2022 Tomatoes; 2022 Tomato (TYLCV) BEEF CATTLE. In this ag credit update podcast, Purdue ag economists Brady Brewer and Michael Langemeier discuss recent inflation trends, interest rate trajectories, loan markets and the ripple effects at the farm. Ohio rates. Gerald Mashange, explore how agricultural loan interest rates vary among lenders. 75 $11. 85 711 $3. Kevin Pautler, deputy regional director for NASS in the Northeast, says about 4,000 surveys were mailed, with responses submitted via an online portal. This article briefly discusses some common tax planning strategies. Jun 11, 2021 · This publication reports custom rates based on a statewide survey of 377 farmers, custom operators, farm managers, and landowners conducted in 2020. 06 per acre, an increase of $3. The Purdue Crop Cost and Return Guide offers farmers a resource to project financials for the coming cropping year. Sep 20, 2023 · These estimates are useful for determining custom rates and for analyzing machinery costs on farms. 2023 Indiana Farm Custom Rates. 95 29. Custom Jun 9, 2021 · A new survey of custom rates is available from Purdue. Tax bills on farmland increased 11 percent in 2023, 27 percent in 2024, and will probably increase about 20 percent in 2025. 99 per acre, or about $22 per acre. Publication Date: March 31st, 2022. Purdue Extension Educators distributed the questionnaires at meetings and events statewide during the last month of 2022 and the first three months of 2023. PAER-2024-09. Date: 3/21/22 Prepared by: Michael R. 65 18. Jul 3, 2024 · The “Ohio Farm Custom Rates 2024” publication reports custom rates based on a statewide survey of 333 farmers, custom operators, farm managers, and landowners conducted in 2024. In addition to the costs outlined in table 1, the costs in table 2 include fuel, lubrication, and labor costs. 85 $11. Langemeier, Department of Agricultural Economics; Shaun Casteel, Dan Quinn, and Tony Vyn, Department of Agronomy; and Bill Johnson, Department of Botany and Plant Pathology, Purdue University. 6 24. 87 $1. In this Purdue Commercial AgCast episode, they unpack a series of recent FarmDoc articles dissecting the nuances of interest rates in ag loans across various groups of lenders, geographic regions, and different types of farms. View All Articles. The 2024 extra charge was higher, and the yield threshold was lower compared with the 2022 averages. 35 per bushel. 83 38 26. The 2025 report is based on 193 responses and 3,703 custom rates provided by Iowa farmers, custom operators, and Custom farm operation inputs and associated costs have trended higher over the past five years, so we see rates doing much the same. ©Informa. He suspects that is especially true now if someone hasn’t upped rates to account for higher fuel and repair costs. cash rental agreements is provided with insights from the 2024 Purdue Farmland and Cash Rental Jan 16, 2024 · The most recent iteration of Iowa State University’s land value survey, released in December 2023, found that farmland values across Iowa increased by 3. Purdue Extension educators and specialists developed the questionnaire. ). 2024 from 6:30-9:00 PM. 7deoh &rqwlqxhg &rqwulexwlrq pdujlq lv wkh uhwxuq wr oderu dqg pdqdjhphqw pdfklqhu\ rzqhuvkls odqg uhvrxufhv dqg ulvn ,qfoxghv furs lqvxudqfh jhqhudo idup lqvxudqfh dqg plvfhoodqhrxv frvw 7kh frvw ri furs lqvxudqfh uhsuhvhqwv wkh suhplxp surmhfwhg iru d 5hyhqxh 3urwhfwlrq 53 srolf\ dw wkh fryhudjh Sep 26, 2024 · Negotiating cash rental rates? This AgCast episode explores 2024 farmland cash rent trends in the Purdue Farmland Value and Cash Rental Rates survey and long-term trends in Indiana cash rental rates, including an examination of regional variation in rates within Indiana. Thirteen percent reported a custom rate less than $5 per acre, 52 percent reported a custom rate between $5 and $7 per acre, 21 percent reported a custom rate between $7 and $9 per acre, 11 percent reported a custom rate between $9 and $11 per acre, and 4 percent of the respondents reported a custom rate of $11 or more per acre. Lenders, educators, and government agencies use custom rates for budgeting, advising, and analysis. See the complete Purdue custom rate survey results for ’23 at bit. Pennsylvania released its report before the new year. 50 14 29 14. 40 18. The property tax is a tax on the value of property, and the value of May 1, 2023 · “Many times, typical custom rates in an area don’t cover all ownership costs,” Langemeier says. visit 2021 Indiana Farm Custom Rates. Respondents are: rural appraisers, ag lenders, farm managers, and farmers Mar 28, 2023 · Average 2023 farm custom rates for some typical tillage, planting, and harvesting practices, as well as custom farming rates, are listed in the adjoining Table. The most notable difference between 2024 and the two preceding years is the number of market forces putting downward pressure on farmland prices. 7 Mar 15, 2022 · It's been a couple years since I did any custom haying. 50 19. 28 per bale. We asked farmers, agribusiness firms and land improvement contractors to provide the rates they were charging or paying in 2022 for custom services, excluding the cost of materials being applied. Here is just a sampling of Michigan’s custom rates, total cost per hour of use. Oct 13, 2022 · Due to weather and rapidly changing market conditions from year to year, farm income can vary substantially from one year to the next. The data presented in this report was obtained by contacting custom operators and dealers and thus represent actual charges. Jan 16, 2025 · USDA’s Farm Service Agency dates to make changes to program enrollment for ARC and PLC for the 2025 crop year are open from Jan. Sep 21, 2022 · • Grain hauling: farm to market (25 miles) 21 cents per bushel. For those who still bale small rectangular bales, the rate in the 2023 Purdue custom rate survey is $1. Jan 24, 2025 · Property taxes on farmland went up a lot in 2023 and 2024. 23 $4. These rates, except where noted, include the implement and tractor if required, all variable machinery costs such as fuel, oil, lube, twine, etc. See the complete 2023 custom rate survey results online. 95 27% Drilling Cover Crops, rate per acre 19. Feb 10, 2025 · February 2025 Estimates . Indiana Farm Custom Rates; to cash rental agreements is provided with insights from the 2024 Purdue Farmland and Cash Rental Rate Survey. 50 Apr 11, 2024 · Although current basis levels in central Indiana are still about $0. Twenty percent of the respondents perform custom work, 16% Sep 20, 2023 · Illinois Farm Management Handbook. The latest full year of indices, 2021, has an index of 100 so all indices outside of this year are expressed in relative terms. For each type of work, the average rate from the Jun 10, 2021 · Related: Purdue issues custom rates for field operations. The information below is based on 94 responses and 2,621 custom rates provided by Iowa farmers, custom operators, and farm managers. Updated April 26, 2019; Farm and Family Living Income and Expenses: Summary of annual capital and noncapital family living expenditures and income and social security tax payments. 2024 Farmland and Cash Rent Outlook. Langemeier, Department of Agricultural Economics; Shaun Castell, Dan Quinn, and Tony Vyn, Department of Agronomy; and Bill Johnson, Department of Botany services. The Custom Rate Surveys are conducted by the Survey Services Team of Statistics and Data Development Branch, Alberta Agriculture and Rural Development. 66 35. The previous 2022, 2020 and 2018 surveys are further below. Field Operations 2023 Department of Agricultural and Consumer Economics PENNSYLVANIA’S 2022 MACHINERY CUSTOM RATES REPORT _____ Cooperating with the Pennsylvania Department of Agriculture Northeastern Regional Field Office 4050 Crums Mill Rd, Suite 203 Harrisburg, PA 17112 (717) 787-3904 www. They provide a reference point based on what people who do custom work say they charge or what people who hire others to work for them say they pay. 4% increase from 2023) to $14,392 per acre for top quality land (a 4. averages for 2022, 2023, and 2024 are included in Figure 2. weaker than the historical 3-year average corn basis for the region, as expected, the difference between 2023-2024 basis levels and typical basis levels for the most recent three years (2020-2021, 2021-2022, and 2022-2023) has continued to narrow. As for haying on shares, a common transaction here is baling on halves for lesser value stands of grass hay — not alfalfa. Rates that are quoted in this publication are expressed in different ways depending on the specific job (per acre, hour, ton, mile, bale, etc. Vyn, and Shaun Casteel, Department of Agronomy; and Bill Johnson, Department of Botany and Plant Pathology, Purdue University. Fixed cost (overhead cost) per acre is Jan 31, 2025 · Purdue ag economists Todd Kuethe, James Mintert, and Michael Langemeier discussed the results from the 2022 Purdue Farmland Values and Cash Rents Survey and USDA’s Land Values report during a webinar on August 24th. 3It is assumed that the current farm bill will provide ARC-CO or PLC payments of $10 per acre in 2025. Similar to previous years, higher interest rates are putting the strongest Aug 26, 2024 · The 2024 Purdue Farmland Value Survey found the average value of bare Indiana cropland increased. Given lower expected capital purchases in 2024 and 2025, we expect crop machinery investment per acre to remain at current levels or decline slightly. 96 per acre in 2020. 40 $12. Base Rate with Extra Charge for High Yield (if any) Flat Rate Charge Aug 24, 2022 · Purdue ag economists Todd Kuethe, James Mintert and Michael Langemeier discussed the 2022 Purdue Farmland Values Survey results and the USDA's Land Values report on August 24. Jun 7, 2021 · Every other year, Michael Langemeier heads up a survey through Purdue University’s Center for Commercial Agriculture to see what people are either charging or paying for various farm tasks done on a custom basis. Though this information is very useful when establishing custom rates, it is prudent to compare your farm machinery costs per acre to custom rates. he training will be hosted by Purdue Extension at the Southern Indiana Purdue Ag Center (SIPAC) at 11371 E. 02/13/24 How to Find 2022 Census of Agriculture Data. 00 15 28 12 16 33. 80 $12. 51 per acre or $24. Average rates. “Generally, 2024 custom rates are down slightly from 2023,” she notes. If your machinery cost per acre is relatively high, then a farm should consider using a custom operator rather than replacing their own machine. OSU’s farmer survey for the average cost to plant corn, in 30-inch rows, is $23. Langemeier says the rates should only be used as a guide. Change in rate. 20 18. , and the labor for the operation. Notice that the 2021 and 2002 values are included in the list. The horizontal axis shows the item from the list above. Apr 19, 2024 · Host Brady Brewer, accompanied by guests Dr. Dec 20, 2024 · In addition to upward pressure on costs for repairs, fuel and oil, insurance, and custom rates; capital purchases were relatively strong during this time period. 2024 Purdue Crop Cost & Return Guide December 2023 Estimates Indiana Cash Rental Rates 2024 vs 2023 Survey Results, State Averages by Land Quality 21 Land Quality Yield (Bu/Ac) 2023 Value ($/A) 2024 Value ($/A) Percent Change Top 226 $306 $313 2. purdue. “We’ve seen increases in custom rates the past two years ranging from 3% to 10% in 2022 and 10% to 15% in 2023. dzpguc czkte xml eidl rwq mbln mdrjrr jwyns trjgsb zkwuf glgqhk ctyq tce fefhhk fhlqu \